July 8, 2020 / 1:02 PM / a month ago

UK's Sunak says will "keenly" look at debt interest rule

LONDON, July 8 (Reuters) - Britain’s finance minister Rishi Sunak said on Wednesday he will “keenly” look at a government spending rule linked to interest paid on its debt when he weighs up changes to the country’s fiscal framework later this year.

Sunak told lawmakers that his predecessor Sajid Javid was “right to introduce into our fiscal framework the notion of an interest service rule, which is something I will look at keenly in the coming months.”

In his March budget, Sunak said he would review the government’s existing spending rules in the second half of 2020, which include a commitment to reassess expenditure if debt interest payments exceed 6% of tax revenue. (Reporting by Andy Bruce; editing by Kate Holton)

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